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  • FIRST POST
    • geffers
    • By geffers 12th Oct 18, 3:06 PM
    • 3Posts
    • 0Thanks
    geffers
    Wills and Executors
    • #1
    • 12th Oct 18, 3:06 PM
    Wills and Executors 12th Oct 18 at 3:06 PM
    Folks,


    Strangely unsure which group to post this in.


    I am having difficulty with respect to appointing an executor for my will. I have only one person to whom I wish to leave my possessions (daughter) and don't particularly want to give her this task but no one else immediately springs to mind.


    Appreciate I could pay a solicitor but I don't really want to incur unnecessary costs.


    Any suggestions appreciated.


    Geoff
Page 1
    • Linton
    • By Linton 12th Oct 18, 4:04 PM
    • 9,813 Posts
    • 10,073 Thanks
    Linton
    • #2
    • 12th Oct 18, 4:04 PM
    • #2
    • 12th Oct 18, 4:04 PM
    Folks,


    Strangely unsure which group to post this in.


    I am having difficulty with respect to appointing an executor for my will. I have only one person to whom I wish to leave my possessions (daughter) and don't particularly want to give her this task but no one else immediately springs to mind.


    Appreciate I could pay a solicitor but I don't really want to incur unnecessary costs.


    Any suggestions appreciated.


    Geoff
    Originally posted by geffers
    Why would anyone other than close friends/family want to do the job if they have no stake in the process? If you do not want to use friends/family surely it is best to chose a professional. And professional do not come cheap. Or would you trust your daughters inheritance to a non professional who you do not know personally?

    The real downside to using a solicitor is that they can be extremely slow.
    • Keep pedalling
    • By Keep pedalling 12th Oct 18, 4:16 PM
    • 5,532 Posts
    • 6,285 Thanks
    Keep pedalling
    • #3
    • 12th Oct 18, 4:16 PM
    • #3
    • 12th Oct 18, 4:16 PM
    It is really not that difficult a task, especially if the executor is the sole beneficiary. Make her your executor, and if nessasary she can high a professional to help if she needs it.

    Regardless of who the executor is, make sure you keep a document outlining wher all your money and rpinvestments are kept. Also keep a record of any gifts over your 3000 annual IHT exempt allowance you have made for the previous 7 years.
    • uknick
    • By uknick 12th Oct 18, 5:49 PM
    • 802 Posts
    • 359 Thanks
    uknick
    • #4
    • 12th Oct 18, 5:49 PM
    • #4
    • 12th Oct 18, 5:49 PM
    There is a section on wills etc in "Household & Travel" here;

    https://forums.moneysavingexpert.com/forumdisplay.php?f=217
    • Mojisola
    • By Mojisola 12th Oct 18, 5:53 PM
    • 29,965 Posts
    • 77,001 Thanks
    Mojisola
    • #5
    • 12th Oct 18, 5:53 PM
    • #5
    • 12th Oct 18, 5:53 PM
    Regardless of who the executor is, make sure you keep a document outlining wher all your money and rpinvestments are kept. Also keep a record of any gifts over your 3000 annual IHT exempt allowance you have made for the previous 7 years.
    Originally posted by Keep pedalling
    And how to find your passwords for your on-line life.
    • xylophone
    • By xylophone 12th Oct 18, 5:55 PM
    • 26,833 Posts
    • 15,991 Thanks
    xylophone
    • #6
    • 12th Oct 18, 5:55 PM
    • #6
    • 12th Oct 18, 5:55 PM
    In these circumstances appoint your daughter.

    Make it as easy as possible for her by keeping full and accurate records of your financial transactions.

    Write a list (and keep it up to date) of all your assets/liabilities - store in a safe place.

    Make a note of any pensions you receive/expect to receive and details of the administrators.

    Inform your daughter where you keep your Will, list of assets/other papers/deeds etc.
    • Mojisola
    • By Mojisola 12th Oct 18, 6:04 PM
    • 29,965 Posts
    • 77,001 Thanks
    Mojisola
    • #7
    • 12th Oct 18, 6:04 PM
    • #7
    • 12th Oct 18, 6:04 PM
    Most solicitors will store your signed will for free.

    You can also store it with the Probate Service -
    https://www.gov.uk/government/publications/how-to-deposit-a-will-with-the-probate-service-a-guide-for-people-who-want-to-deposit-a-will-for-safekeeping-pa7
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